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The global alkaline battery market size was valued at USD 7.48 billion in 2019 and is projected to reach USD 10.71 billion by 2027, exhibiting a CAGR of 4.8% during the forecast period.
Alkaline batteries are disposable batteries or non-rechargeable batteries where electrodes are made of zinc and manganese dioxide. It has high energy density and performs well at ambient temperature, as well as at low temperatures. It has low leakage, longer life, and better dimensional stability. It is used in vehicles and for commercial and industrial purposes. They are also used in tracking devices, radios, toys, watches, calculators, cameras, flashlights, lanterns, games, fire and smoke detectors, portable stereos, telephones, tape, compact disc players, and other applications. Growth in consumer spending and the increasing demand for electronic products are the key factors set to accelerate the alkaline battery market growth during the forecast period.
COVID-19 continues to spread rapidly around the world. Almost every country has reported cases of infection. Every country is at different stages of the pandemic. Some countries such as Singapore and Hong Kong were effective at the initial containment and are implementing additional measures to address it. Countries such as Russia, Italy, Spain, and Turkey are seeing a recent acceleration. India, too, has experienced a significant increase in the number of cases since the beginning of April and has evolved its response strategy, including extending the nationwide lockdown.
Amid the increasing concern over COVID-19, many industries across the globe, such as automotive, aviation, manufacturing, and transportation, electronic products are experiencing a negative impact on their businesses. Manufacturing activities are generally considered essential activities for many constructions and industrialization globally and have been mostly exempted from the lockdown measures. The spread of COVID-19 poses a significant threat to the global alkaline battery industry.
The emerging economies such as China and India are the major countries for electronic products in which batteries are used across the globe. As the COVID-19 spread is pushing China and then India towards lockdown, there is a decrease in the demand for spending on household products. With more countries announcing lockdowns to stop the COVID-19 spread, the consumer demand for electronic products remained steady in contrast to a steep fall in this type of battery products. Additionally, the sluggish demand due to a decrease in the consumer spending across various applications has impacted the demand for the market.
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Growing Advancement in Technology for Alkaline Batteries is a Trend
In alkaline battery, the anode is the zinc and the cathode is the magnesium oxide. Whereas, the advancement in batteries has led to the usage of carbon in the cathode mix, which increases efficiency. A significant development in this type of battery has increased the performance capabilities, which would drive the demand for these batteries. Hence, significant technological advancement is one of the latest alkaline battery market trends.
Increasing Focus on Back-Up Power is a Prominent Trend
Alkaline batteries are used to back-up memory and clocks in laptop and desktop computers. Back-up power is urgently required during emergency applications for medical services, emergency lights, communications and electrical services, clean water, and other applications. Blackouts and power outages owing to the instability of weather such as storms, hurricanes, cold and ice, and tornadoes, brings the need for power back up. The emerging demand for alkaline battery from commercial applications such as data centers, telecom packaging plants, manufacturing plants, commercial buildings, agricultural operations, and processing facilities would propel the demand for alkaline battery in the global market scenarios.
Increasing Consumer Spending to Fuel Demand for Alkaline Battery
Increasing consumer spending for electronic gadgets would propel the growth of the market in the projected period. Consumer spending is a large component of GDP which upholds the economic stability of the country. It is used in household appliances and gadgets on a large scale, which further increases consumer spending. For instance, the average expenditures per consumer for 2018 were USD 61,224, which is an increase of 1.9% from 2017, as per the U.S. Bureau of Labor Statistics. Hence, the increasing consumer spending would fuel the demand for this type of battery in the forecast period.
Growing Demand for Electronics Products would Accelerate Market Growth
Electronic products are used in every sector, such as military, medical, industrial, commercial, and others. It is deployed in electronic products that are used in day to day activities on a large scale. The shifting dynamics in portability and mobility in the field of telecommunication and mobile computing and the development of internet infrastructure would accelerate the use of alkaline batteries in the future.
Increasing Demand for Rechargeable Batteries to Restrain Market growth
Rechargeable batteries offer high power density, high discharge rate, good low-temperature performance, energy-efficient, and lower cost unlike the non-rechargeable batteries, which is negativily affecting its demand. Rechargeable batteries are more effficient and reliable, consumer prefers more towards rechageable batteries compared to alkaline battery, which is primarily non-rechargeable. Hence, increasing demand for rechargeable batteries restraints the market growth in the coming years.
Increasing Consumer Spending to Lead to Growth of Primary Segment
Based on product, the market is segmented into primary and secondary. The primary segment held a dominant share of the market in 2019. The dominance is due to the wide range of applications of non-rechargeable batteries in electronics products and household appliances. The increasing demand for electronics products along with the growth in consumer spending has enabled the growth of the primary segment. However, stagnant growth can be observed for the secondary segment owing to the increasing demand from applications such as watches, alarm clock, flashlights, cameras, lanterns, and others. Hence, the growth in consumer spending and high demand for electronics products would further accelerate the demand for primary alkaline batteries in the global market.
AA Segment to Lead Backed by its Long Life Span & High Storage Capacity
Based on size, the market is segmented into AA, AAA, 9 volt, and others. The AA segment is leading the market owing to the higher storage capacity and long-lasting life span. The AAA segment is also growing at a faster rate owing to its increasing applications in smaller and portable devices, which includes MP3 players, TV remote controls, digital cameras, and others.
The 9-volt segment is set to generate more market share due to its wide scope of application in walkie-talkies, alarm clocks, smoke detectors, electronic parking meters, and other consumer electronics. The other segment is also set to show a surge in the market share. It includes C, D, N, and button batteries which have their use in medical, industrial, defense and military, and other industries. It would drive the demand for alkaline batteries in the global market.
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Consumer Electronics Segment to Dominate Stoked by High Demand for Batteries in Such Products
Based on application, the market is segmented into remote control, consumer electronics, toys & radios, and others. The consumer electronics segment is expected to have a dominant share in the global market owing to the increasing demand for alkaline batteries in laptops, computers, smartphones, MP3 players, and GPS units during the forecast period. The toys & radios segment is holding the second largest market share owing to the increasing application of these battery in toys, radios, and walkie talkies.
The others segment is also set to show high alkaline battery market share in the global market which includes cameras, entertainment, alarm clocks, flashlight, and tracking devices. It would propel the demand for alkaline battery. The increasing engagement with digital technologies such as consumer IoT, smart homes, and home automation, coupled with the development of internet infrastructure and the spread of mobile communication network technologies, would drive the global market growth.
The remote control segment is growing at a steady rate owing to its wide scope of application in television sets, DVD players, and control functions such as power, playback, track change, volume, channels, heat, fan speed, or other features varying from device to device. Hence, a wide range of applications from the consumer electronics segment would drive the demand for alkaline battery in the global market.
North America Alkaline Battery Market Size, 2016-2027 (USD Billion)
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The market size in North America stood at USD 3.46 billion in 2019. The U.S. holds the largest market share for alkaline batteries owing to the growing adoption rate of consumer electronics products and increased consumer spending. It is also used in military, healthcare, and industrial applications. In addition to that, increasing investments in the healthcare industry and a wide scope of application in industrial applications would propel the growth of this market in the forthcoming years in this region.
Asia Pacific is estimated to hold the second-largest share in the global market. The growth is attributable to an increase in the consumer spending and the booming growth in demand for electronic products. As per the estimate of the International Monetary Fund (IMF), in 2020, the developing and emerging economies in the region increased by 5.6% in 2019, which signifies a growth opportunity for consumer spending in the coming years. Hence, a growth in the consumer demand would augment the market in Asia Pacific during the projected period.
The market in Europe is expected to grow at a significant rate owing to the increasing expenditure on consumer electronics goods and gadgets. According to Statista Report 2020, the countries from Europe, such as Germany, the U.K., and France held the leading positions in consumer expenditure of approximately USD 1,987, 1,770, and 1,442 billion, respectively. Hence, the increasing consumer spending capabilities would uphold the demand for electronic gadgets, which, in turn, would propel the demand for alkaline battery during the forecast period in this region.
The market in the Middle East & Africa & Latin America is expected to show healthy growth in the coming years owing to the increasing investment in the electrical equipment, IT industry & telecom sector. It would augment the application of alkaline batteries. An increase in the demand from small electronic devices such as clocks, cameras, and flashlights, as well as electronic toys and portable radios, would also accelerate the demand for these battery in the regions.
Duracell Inc., Energizer Holdings, and Camelion Batterien GmbH to Lead Global Market
The market is consolidated owing to the strong product portfolio and remarkable distribution network of major companies in the developed and emerging countries. Currently, Duracell Inc., Energizer Holdings, Camelion Batterien GmbH, and Gold Peak Industries (Holdings) Limited are holding the largest market share. They accounted for the dominant share in 2019. However, the alkaline battery offers higher energy output, longer shelf life, and lasts longer than the carbon-zinc batteries. It has emerged as a replacement for the carbon-zinc batteries. This is projected to lead to the healthy growth of the market by 2027.
Other key players such as ACDelco, Sunmol Battery Co. Ltd., Nippo, and Excell Battery Co. have also entered the competitive landscape with a wide product variation in batteries. Technical advantages and advanced features have increased their demand in the global market.
The alkaline battery market research report provides a detailed analysis of the market and focuses on key aspects such as the leading companies, product types, and leading applications across various industries. Besides this, the report offers market insights into the industry trends and highlights key industry analysis and developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the advanced market over recent years.
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Value (USD Billion)
Fortune Business Insights says that the global alkaline battery market size was USD 7.48 billion in 2019 and is projected to reach USD 10.71 billion by 2027.
Registering a CAGR of 4.8%, the market will exhibit steady growth in the forecast period (2020-2027).
In 2019, the North America market value stood at USD 3.46 billion.
The consumer electronics segment is expected to be the leading segment in this market during the forecast period.
The increasing consumer spending and the growing demand for electronics products are major factors driving the growth of the market. However, increasing demand for rechargeable batteries restraints the market growth.
Duracell Inc., Energizer Holdings, Camelion Batterien GmbH, and Gold Peak Industries (Holdings) Limited are the top companies in the market.
North America dominated the market in terms of share in 2019.
Alkaline batteries are disposable batteries that have a longer shelf life and higher energy density than the other batteries. These batteries are used in various applications which include smoke alarms, portable transmitters, scanners, digital voltmeters, door locks, remote controls, laser pointers, and others.
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